All Forum Posts by: Abbie Gibson

@Kyle Andrade That’s great to hear! My partner and I never came up this way before, but once we got here we really came to love it. Now we know where we will be staying for a while! 

@John Mocker That’s good to know, I’ll make sure to check that with my insurance agent! Thanks for the heads up

@Kyle Andrade Hey, I’m a bit late to the party, but congrats on getting a fourplex under contract! Sounds like a great place to start. I just closed on my first duplex and plan to do the same thing in Bristol RI. If you’d ever like to talk strategy, pm me :)

@Assad Oskuei I have a great guy that lives nearby, but he’s booked for a while. Message me if you’re willing to wait a few months, otherwise I don’t have anything :/ Contractors are booked like crazy lately

@Nick Kolp Welcome to BiggerPockets! I'm 19 years old and I just bought my first house in Bristol RI. I'm glad to see other young people getting into the real estate business :) If you ever want to chat about real estate strategy and plans, feel free to message me.

I would recommend reading books to get started. It's always good to have a bit of knowledge going into talking to other real estate investors, loan officers, lawyers, etc. I recommend Rich Dad Poor Dad (yes I know it is advertised everywhere, but it's everywhere for good reason), it changes your mindset about money. Also, Brandon Turner's guide to real estate investing (the beginner version and then the ultimate version I believe it's called) are really good resources to figure out what type of real estate you want to get into. If you search on BP, I believe they also have a list of 10-20 books that are good for beginners just starting out. I hope this helps!

@Erik Solberg Hey Erik! Nice to see more young people getting into real estate. I'm 19 and just bought my first property, so I'm open to talking about real estate, message me if you'd like to chat :)

I'm unsure about the loan options in Norway. Here in the US we have FHA loans if you're going to live in the property which boast only a 3.5% down payment. I would check if there are any options like that available in Norway.

Also, banks may be willing to accept a lower down payment on a house if it is a multiunit and other units are already leased when you buy it. This way the bank knows you already have some definite income coming in, so you may be able to stretch your money farther and leverage more. Let me know how this works out and if you have any questions.

Hey Tinah! Great to see other newbies joining. I've just bought my first property in Bristol RI, so I'm in the same boat as you :)

As for lead, my partner's relatives have been in real estate for a long time. They don't run the best system, and while they know about the laws, they have never checked for lead or gotten their houses officially deleaded before renting to children under 6. Personally, I think health and safety are the two most important things when running any business, including real estate. I would get the house certified deleaded ASAP if the tenant's lease continues into your ownership of the house. If you don't have the money, you may be able to get a loan to spread the cost over a few months to get the rental income to pay for it. However, the only experience I have with it is my relatives not following the laws, so the only thing I can solidly recommend is to definitely not just ignore the laws haha.

@Anthony Thompson We are looking to rent out by the room for college rentals (we are down the road from Roger Williams), and Bristol actually doesn't have any limitations on renting by the room, so technically it will all be one unit with two kitchens and two bathrooms. We can't make it a legal two unit, because we don't have enough land for the land requirement. If you could message me contractor recommendations that would be absolutely wonderful. We've had trouble getting people because everyone is so busy right now.

So we are looking to turn the half bath on the second floor of our house into a full bath, so we can turn that into a separate unit and house hack. We had a contractor come over to evaluate the job. He did not take any measurements, didn't take any notes about where we wanted things to go, said we were being too pushy when we asked for references and proof of insurance, and flat out refused to give us a sketch/plan of what he would be doing. He sent over a contract and it was a complete joke. Nothing was listed in detail, and when we pushed him for details, he said everything was obvious as to what would be completed. I asked if he would paint the drywall, and he said no. Would have thought that would be an "obvious" included step, but apparently not. We are not going with him. 

We are based in Bristol RI. Does anyone have contractor recommendations for the area?? We need someone better than this.

Hey all! I'm 19 and just bought my first house hack, and I'm planning on buying my second house in the next few months. My partner and I noticed there aren't too many groups for young investors, so message me if you're young and getting into real estate early like us! We're based in Bristol RI right now.